Financial Technology

Fiserv Solutions Help Oak Bank Optimize Service to Customers

Fiserv’s Premier bank platform has been selected by Chicago-based Oak Bank, which will be leveraging the outsourced account processing services and other suitable digital banking solutions to serve its customers. Fiserv is a global provider of financial services technology solutions.

Bank officials revealed that the adoption of new technologies will help the bank integrate, innovate and improve the functionality of digital product offerings in order to serve customers better and keep up with the competition.

According to Rob Sullivan, Oak Bank vice president and CFO, the bank looks to serve customers optimally, irrespective of their location, even if they’re frequent travelers to foreign countries or residents of a new neighborhood.

Fiserv also announced that another premier bank has integrated several other Fiserv technologies, including CheckFree (News - Alert) RXP and CheckFree Small Business for bill payment, Mobiliti for mobile banking, Business Online and Retail Online for online banking.

The bank will be leveraging the capabilities of other technologies such as the Branch Source (News - Alert) Capture and Merchant Source Capture for check capture, Business Process Manager for new account and process management, or Fiserv Clearing Network for image exchange and debit card processing solutions.

More than 1,100 financial institutions have reportedly selected mobile banking solutions from Fiserv. The company’s flagship mobile banking and payment platform, Mobiliti, currently powers mobile financial services for millions of consumers at banks and credit unions on five continents across the globe.

The number of accounts supported by the platform is growing an average of 10 percent each month, reflecting the growing consumer demand for mobile banking and payments technology. Using Mobiliti, financial institutions can offer customers a robust set of capabilities, including checking balances, locating ATMs, receiving alerts, paying bills, transferring funds, sending person-to-person payments and depositing checks using camera-equipped smartphones.

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